Dogecoin's price has dropped by approximately 11.75% in the past 24 hours, reaching $0.352 on January 8, as part of a wider decline in the cryptocurrency market influenced by Bitcoin falling below $100,000. This sell-off is tied to stronger-than-anticipated US economic data, which dampened traders' expectations for Federal Reserve rate cuts. Key reports, including ISM services and JOLTS job openings, highlighted the ongoing threat of inflation amid economic robustness. Rising US Treasury yields spurred further selling pressure, leading to significant long liquidations in the crypto market, totaling $710.47 million, with Dogecoin facing $26.95 million in net liquidations. The ongoing price decline suggests a potential 25% drop to $0.266 by February, as Dogecoin experiences a consolidation phase. However, a breakout above recent resistance could see the price rise to $0.830 by March 2025. Investors are cautioned to conduct their own research amid these market fluctuations.

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